>>Mark
>>
>>we have stamp duty on house purchases. Can't remember how much but its a sliding scale.
>>
>>Also we have rates which is related to the value band the house is in. Where I am now (North London actually. I must update my profile) the rates are about 1800 per year.
>
>Well it hasn't been rates for years; it's called "Council Tax" and is sort of equivalent to American local govt. tax.
>It's based on the "band" under which the house falls, depending on "splendidness" and area. This gets updated every so often but doesn't go on value per se. Mind you, doesn't stop the local councils bumping it up each year, indep. of house price.
>
>>
>>The poll tax was supposed to replace rates and was based not on house value but per head and was deeply unpopular as the very rich paid the same as the very poor. Also it didn't have to be paid on second homes . It was one of the things that fianlly brought down Thatcher and ultimately the Tories.(good riddance)
>
>
>All I know is I paid far less poll tax than I do the council tax that replaced it, and I'm not (and wasn't) rich.
>
>Terry
>..........................
>>
>>Nick
>>
>>>thankfully we don't have an annual tax on our houses here, but there is a tax on buying a house called stamp duty, it is a % of the cost, anything below 317k is exempt and then it is a sliding scale from 3%, i think, up for 9% for houses sold for more than about 800k. i England i think they have an annual tax, they used to at least in the poll tax.
>>>~M
>>>
>>>>Interesting how property has appreciated all over. However, I have a question, over there, you mention your house has gone up 75% in 3 years, do you pay a yearly tax and if so, has it gone up the 75% as well?
>>>>
>>>>
>>>>>its the exact same here, in 3 years my house has gone up about 75% and its not even near the city, about 20 odd miles away, my parents house is "worth" well in excess of 750k and its just a normal 3 bed semi-d in a reasonable area, some 4 beds in their estate are going for 1m!
>>>>>~M
>>>>>
>>>>>>It's interesting, isn't it. There are young professionals in, say, London, from normal middle-class families (say, their dads were high-ranking bank clerks) who could not afford to buy the house that their similarly classed parents raised them in.
>>>>>>
>>>>>>Yet, their parents wouldn't have been able to go out clubbin' several times a week, afford holidays in Thailand (or even to fly there), have so many clothes as they, skiing hols, so much disposable income, etc. I live in a very high-rent part of the country, in the SE, south of London, one of the most expensive parts of the country to live. The area of the city where I live is now up and coming, I was lucky to buy my house in the late 80s, at c. £63.5 G (within 4 times our joint income). Now it's worth some £350 G (I WISH!). I doubt I'd be able to afford to buy that now. Yet, when I came here it was dead of a night. Now all the pubs have been done up and are regularly packed out, the local bank has 2 ATMs, etc., etc.
>>>>>>
>>>>>>What gives!?

Maybe your council just liked you.